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Neo Current Account

Features

Your growing business needs the right financial boost. With Neo Current Account, you can ensure all your business needs are met. With the right balance of banking features this account will help your business grow, all while maintaining the lowest balance requirement.

Value-added services:

Every business needs a set of services that form its backbone. Avail these services at special rates negotiated for Kotak Bank only:
The list below is indicative, and based on the availability of the concerned service providers:

Disclaimers

1 Free up to Rs. 2 lac per month.2 Conditions apply. Available in select locations only. Credit at the sole discretion of Kotak Mahindra Bank Ltd. and is subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing the loan assets.3 At Bank's discretion.4 Offered through third party tie-ups.

All the features and benefits are subject to terms, conditions and exclusions. Please refer to the General Schedule of Features and Charges.

Eligibility

This account can be opened as a single or joint account and requires an initial deposit of Rs. 1 lakh. The minimum average quarterly balance requirement for a Neo Current Account is Rs. 10,000/-.

"NIL Charges" are not applicable for Current Accounts Maintaining Less than 75% of the Required Product AQB:

Product wise limits offered on various transactions and services with "NIL Charges" shall be applicable only if the Average Quarterly Balance (AQB) maintained in the account in that quarter is atleast 75% of the product AQB; else standard charges shall apply as per the GSFC in effect. Additionally, AQB non-maintenance charge will also be applicable as mentioned in GSFC.

*Nil charges on Transaction and Value added SMSalerts to the customers who have subscribed for Daily/Weekly balance alert facility.

*Alerts that have been mandated by RBI as well as alerts which are deemed appropriate by the Bank, will be sent without any charges, even if Daily/Weekly Balance SMS alerts facility has not been subscribed.

GTA Pro, GTA Elite and GTA ACE products would follow the transaction banking related features and charges of the underlying generic products namely Pro, Elite and ACE.For more details related to Trade Service charges refer the Trade GSFC respectively.

Service Charges to Account Holders in Rural / Semi-urban locations:

Classic Current Account is available in Rural / Semi-urban branches with reduced AQB requirement of Rs 10,000. The features offered and charges applicable shall be the same as Pro Current Account (except for Home Banking Service which is offered only at select locations).

Kotak Synergy Current Account is available to customers of other businesses within the group, same features & charges as Edge Current Account are applicable at a reduced AQB of Rs 10,000. Features & charges as EDGE Current Account are offered at NIL AQB for all below mentioned acccounts, except Home Banking services which will be offered at standard charges plus registration fee of Rs 250/- per annum for these customers.

Product Name

Business Group

Product Name

Business Group

Retail Overdraft Account

Business Banking Group

Business Finance Current Account

Business Banking Group

Business Plus Current Account

Home Finance Division

Business Current Account

Personal Loan Divison

Kotak Logistics Overdraft Account

Commercial Vehicles Finance Division

Agri Finance Overdraft Account

Agri Finance Division

The Bank will charge cross-currency mark-up of 3.5% on foreign currency transactions carried out on Debit Cards. The exchange rate used will be the VISA/Master Card wholesale exchange rate prevailing at the time of transaction.

<> Indicates penalty charges

Charges are exclusive of the Goods and Service Tax (GST). With effect from July 1, 2017 the effective Goods and Service tax rate will be 18% on taxable value. The GST rate is subject to change from time to time.

The above charges are applicable for all states other than Jammu & Kashmir. GST is applicable in the state of Jammu & Kashmir. For charges applicable to Jammu & Kashmir, please contact the respective Branch Manager.

All charges are subject to revision with an intimation of 30 days to account holders. Closure of account due to revision of charges will not be subject to account closure charges.

In addition to the above service tax, 2% secondary education cess and 1% higher secondary education cess will also be applicable.

Please Note:

1 Classic Card will not be available to customers whose Current Account has been opened with Kotak Bank post 20th Dec, 2011.

* Indicates Standard Charges are Applicable

The Bank shall review the relationship value on a periodical basis, if the same is below the program threshold value, then the Bank shall reserve the right to levy penalty charges Rs 5000/- p.a. after giving a notice of 30 days.

No Free Limits for Current Accounts Maintaining Less than 75% of the Required Product AQB: (Not Applicable for customers under Privy Program)

Product wise free limits offered on various transactions and services shall be applicable only if the Average Quarterly Balance (AQB) maintained in the account in that quarter is atleast 75% of the product AQB; else standard charges shall apply as per the GSFC in effect. Additionally, AQB non-maintenance charge will also be applicable as mentioned in GSFC.

Rs 2.50/1000 of cash deposited and part thereof + Service Tax as applicable.

Kotak Synergy Current Account is available to customers of other businesses within the group, same features & charges as Edge Current Account are applicable at a reduced AQB of Rs 10,000.

Features & charges as Pro Current Account are offered at NIL AQB for all below mentioned acccounts, except Home Banking services which will be offered at standard charges plus registration fee of Rs 250/- per annum for these customers.

Product Name

Business Group

Product Name

Business Group

Retail Overdraft Account

Business Banking Group

Business Finance Current Account

Business Banking Group

Kotak Logistics Overdraft Account

Commercial Vehicles Finance Division

Business Pro Current Account

Emerging Corporates Group

Business Plus Current Account

Home Finance Division

Agri Finance Overdraft Account

Agri Finance Division

Business Current Account

Personal Loan Division

^Intercity clearing charge on cheque collections is a charge levied on the Drawee of a cheque if an “AT Par” cheque is presented for collection under clearing at other than Home Branch Location of the Drawee.

The above charges are applicable for all states other than Jammu & Kashmir. GST is applicable in the state of Jammu & Kashmir. For charges applicable to Jammu & Kashmir, please contact the respective Branch Manager.

All charges are subject to revision with an intimation of 30 days to account holders. Closure of account due to revision of charges will not be subject to account closure charges.

In addition to the above service tax, 2% secondary education cess and 1% higher secondary education cess will also be applicable.

Please Note:

1 Classic Card will not be available to customers whose Current Account has been opened with Kotak Bank post 20th Dec, 2011.

* Indicates Standard Charges are Applicable

The Bank shall review the relationship value on a periodical basis, if the same is below the program threshold value, then the Bank shall reserve the right to levy penalty charges upto Rs 5000/- p.a. after giving a notice of 30 days.

No Free Limits for Current Accounts Maintaining Less than 75% of the Required Product AQB: (Not Applicable for customers under Privy Program)

Product wise free limits offered on various transactions and services shall be applicable only if the Average Quarterly Balance (AQB) maintained in the account in that quarter is atleast 75% of the product AQB; else standard charges shall apply as per the GSFC in effect. Additionally, AQB non-maintenance charge will also be applicable as mentioned in GSFC.

Rs 2.50/1000 of cash deposited and part thereof + Service Tax as applicable.

Kotak Synergy Current Account is available to customers of other businesses within the group, same features & charges as Edge Current Account are applicable at a reduced AQB of Rs 10,000.

Features & charges as Pro Current Account are offered at NIL AQB for all below mentioned acccounts, except Home Banking services which will be offered at standard charges plus registration fee of Rs 250/- per annum for these customers.

Product Name

Business Group

Product Name

Business Group

Retail Overdraft Account

Business Banking Group

Business Finance Current Account

Business Banking Group

Kotak Logistics Overdraft Account

Commercial Vehicles Finance Division

Business Pro Current Account

Emerging Corporates Group

Business Plus Current Account

Home Finance Division

Agri Finance Overdraft Account

Agri Finance Division

Business Current Account

Personal Loan Division

^Intercity clearing charge on cheque collections is a charge levied on the Drawee of a cheque if an “AT Par” cheque is presented for collection under clearing at other than Home Branch Location of the Drawee.

The above charges are applicable for all states other than Jammu & Kashmir. GST is applicable in the state of Jammu & Kashmir. For charges applicable to Jammu & Kashmir, please contact the respective Branch Manager.

All charges are subject to revision with an intimation of 30 days to account holders. Closure of account due to revision of charges will not be subject to account closure charges.

Valid APMC License under the APMC act by the local APMC Board Authorities

Certificate issued by any govt. body (not mentioned in the list above) for carrying out business in the firm’s name

IATA certificate in the name of the firm for customer’s in Travel business

Utility Bill in the name of the Proprietorship

For customers in Rural Area - Certificate of Establishment issued by Gram Panchayat signed by Block Development Officer/Talati /Patwari /Tehsildar /Govt. Medical Officers with official seal/Agriculture Officers with official seal/Head Master with official seal & sign (any school) /Village Administrative Officer/Village Development Officer

Trusts / Association / Society/ Club

Trust Deed

Registration Certificate, if any (certified true copy)

Copy of Governing body resolution

Bye Laws (certified true copy) if model bye laws of RCS have been adopted, certification to that effect